Levy blames the team for losses

Levy also said the club may have to move from White Hart Lane. Spurs, who earned a pre-tax profit of £900,000 in 2002, reported disappointing results to the Stock Exchange as player trading losses of £18.7 million including £7.2 million on the sales of Sergei Rebrov and Ben Thatcher pushed the club into the red.

"Last season the team's performances were well below the level we hoped for," said Levy. "This has resulted in a challenging close season for our business managers and indeed all our employees."

Tottenham sanctioned the summer spending of £11 million on Helder Postiga, Fredi Kanoute, Bobby Zamora and Bobby Convey (not included in the pre-tax loss) which means Hoddle's successor will have his hands tied in the transfer market unless results improve significantly.

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The chairman hinted that director of football David Pleat is likely to be given the caretaker-manager's job until at least the end of the season when he said: "We will not be rushed into a decision and must look at every possible scenario to find the best management arrangement."

Spurs want to develop White Hart Lane but Levy admitted there are "immense difficulties to overcome in an area that has been deprived of investment for so long."

Levy would not rule out relocation and said: "While we are keen to stay at White Hart Lane we remain open-minded to any feasible alternatives."

David Beckham has still not fully recovered from a hamstring injury and will miss Real Madrid's league game at Real Zaragoza tonight.

Everton's Steve Watson has been ruled out for six weeks after a double hernia operation.

Charlton have recalled Swedish striker Matt Svensson from Derby after Paolo Di Canio's hamstring injury left them with four forwards on the injured list. Their South African striker, Shaun Bartlett, has retired from international football in an attempt to win a new contract.

Chairman John Sleightholme has revealed himself to be the "mystery" owner of Derby, less than a week after saying the club had been bought for £15 million put up by money men from "home and abroad".

Max Griggs has revealed his intention to step down as chairman of Rushden & Diamonds and give the club away to the right person for free.

"I am not looking for any financial gain," he said. "I would be happy to pass the Rushden & Diamonds Football Club to the right person for nothing. Having reached the age of 65, I feel that the time is right for someone else to take the club forward.

Former Reading goalkeeper Steve Death has died at the age of 54 after losing a long battle against cancer. He made 537 appearances for Reading between 1969-82.